re: strange, what's up here, ?mining nut Found this, but the...

re: strange, what's up here, ?mining nut Found this, but the charts don't show it ever @ 11c.

Copper price pushes SMC production
Rebecca Keenan


Wednesday, October 27, 2004

STRONG copper prices have encouraged SMC Gold to fast track a planned ramp up of copper production from its Chilean operation and it has said it will double its monthly production for October.

SMC shipped 391 dry tonnes in the first two weeks of October at average grades of 18.46% copper, 4.78 grams per tonne gold and 158.6gpt silver and is expecting the final October figure to be 780t.

Managing director Rob Kidd said lifting the standard of concentrate was particularly pleasing. SMC has ramped up production to 1000t per day in less than three months.

It is now driving to increase this to 1500t per day, as well as improving recovery rates and concentrate grades.

"These capital improvements will have the effect of reducing freight and treatment costs and significantly increasing revenue with a very low marginal cost," said Kidd in a statement to the market.

A 13% increase in recovery and a 50% improvement in grade to 30% would provide an 8% increase in net income per tonne of ore, or US$240,000 per month of production at 1000tpd.

SMC shares gained almost 30% on the news and were trading at 11.5c in mid afternoon trade.

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SMC Gold's Punitaqui